The scheme is applicable for households with an income of up to Rs 6 lakh per annum, the company said.

“Housing Finance is an integral part of Tata Capital’s wide portfolio of retail offerings. This product can reduce the effective cost of interest thereby expanding the opportunity of home ownership,” said Govind Sankaranarayanan, Chief Operating Officer-Retail Business & Housing Finance, Tata Capital.

The ‘Prapti’ home loan scheme, with low interest rates and flexible loan repayment options will equip a larger base of the lower income segment to realize their dream of purchasing their own home, TCHFL Managing Director R Vaithianathan said.

TCHFL, a wholly-owned subsidiary of Tata Capital, provides loans for purchase and construction of residential unit, land purchase, home improvement, home extension and project finance to developers.